The first Finovate Conference on European soil took place in London highlights the Finovate Europe 2011 on February 1, 2011. So far, there was this event only in the United States. Finovate describes itself as the leading platform for the latest and best innovations and innovative startups in the financial services sector. Focused on the following topics: personal financial management security investment and the use of social media (social investment”online and mobile payment online banking for small business one of the four best-of-show”winner was Meniga, a young Icelandic company, the best-of-breed”white-label solutions in the field of personal financial management (PFM) offers. The system features automatic categorization of revenue and expenditure in particular by the following functions. Automatic projection of future expenditure. Representation not only in simple, easy to understand table form but also in beautiful graphics.
Email service, the users before cost overruns warns. Automatic comparisons of past and future. Of course, there is also a mobile app. Particularly noteworthy is the ability to compare their own output behavior with other users (in same life situations) and to gain valuable advice for their own savings. At the same time, this successful involvement of community elements makes the whole to an entry in the Bank 2.0. There are already first before pointing customers, so E.g. Islandsbanki, which introduced PFM in 2009 and could achieve great success. As customer loyalty and earnings per customer rose significantly.
Many experts and analysts see one of the most important future trends for banks in PFM. It will be so exciting to follow how the banks in this country take advantage of the new offer and offer their customers. Meniga they have an interesting way to introduce an already proven system quickly and efficiently in any case. Dr. Hansjorg Lakshmi